Las Vegas trade show participants said they would like a crystal ball to calculate which way retail sales are headed.
It all converged last summer when inflation clocked in at 9.1 percent in June and U.S. gas prices were approaching $5 a gallon that same month. In January, the situation softened slightly, as inflation dropped to 6.4 percent compared with last year and gas prices dipped to around $3.44 a gallon.
“It has to do not only with inflation, but that people are in that fear mode right now about what will happen in the future,” he said. “I tell my team, it’s like winter is still here, but hang in there for spring and summer.”booth filled with colorful print clothing, Cathy Cooley and Theresa King had two views on the retail world.
Retailers too are experiencing a tale of two economies. If they were located in affluent areas, they were doing well. If they were in towns harder hit with inflation and unemployment, they were having to work more smartly for their money.
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